Global Process Oil Market Worth USD 4.98 Billion by 2020 – Increasing Demand for Finished Lubricants From Various Industries – Research and Markets
By Business Wire News
Research and Markets has announced the addition of the “Process Oil Market by Type (Aromatic, Paraffinic, Naphthenic, Others), by Application (Tire & Rubber, Polymer, Personal Care, Textile, Others), by Region – Global Forecast to 2020” report to their offering.
The global process oil market is projected to reach USD 4.98 billion by 2020, at a CAGR of 2.5% between 2015 and 2020. The main reason for the growth of the global process oil market is increasing demand for finished lubricants from various industries, along with increase in the number of various end user industries.
Among applications, the tire & rubber segment is expected to grow at the highest CAGR during the forecast period, 2015 to 2020. The tire & rubber application segment is one of the potential application segments of the global process oil market. Growth of this application segment can be attributed to increased usage of process oils as carrier oils, plasticizers, dust control agents, and processing aids in the automotive industry.
The Asia-Pacific region is expected to lead the global process oil market during the forecast period, owing to increased investments being made in the automobile sector and rapid industrial growth in the region. The market in the Asia-Pacific region is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to continuously growing population and flourishing automotive industry in the region.
- Avista Oil Ag
- Chevron Corporation
- Hindustan Petroleum Corporation Ltd.
- Idemitsu Kosan Co., Ltd.
- Lukoil Oil Company
- Nynas Ab
- Phillips 66 Company
- Royal Dutch Shell Plc
2 Research Methodology
3 Executive Summary
4 Premium Insights
6 Industry Trends
7 Process Oil Market, By Type
8 Process Oil Market, By Application
9 Process Oil Market, By Region
10 Competitive Landscape
11 Other Developments
For more information visit http://www.researchandmarkets.com/research/2kzqkg/process_oil
View source version on businesswire.com: http://www.businesswire.com/news/home/20160523005594/en/
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Sector: Oil, Petrochemicals